Well that's great, except the problem is the government can't keep giving tax cuts indefinitely, especially if the median income they are subtracting from as a percentage keeps going down. The government needs a specific amount to operate, and right now it's spending more than it's earning, hence the skyrocketing debt. I applaud Bush's goal of cutting government waste and givaways, but unless he does it faster than is being approved, the government's required income is being squeezed between a falling income base of the citizens, and the reduced percentage they can extract as taxes.
True, but as the graph in post #239 shows, median income usually drops during and immediately after a recession. I have no doubt median income will start rising again. And aside from income, household net-worth is at a record high.